Le Hoang Diep Thao no longer Trung Nguyen shareholder
Dang Le Nguyen Vu, founding chairman and general director of Vietnamese coffee giant Trung Nguyen Group, has bought all the group shares held by his ex-wife, Le Hoang Diep Thao, so she is no longer a shareholder of the group.
Le Hoang Diep Thao is no longer a shareholder of Trung Nguyen Group - PHOTO: TNO
According to an announcement by the group, Vu paid Thao VND1.19 trillion.
On December 5 last year, the HCMC Superior People’s Court made its final ruling on the divorce case between Vu and Thao.
The court determined that Vu had made more contributions to the establishment and development of the coffee empire than Thao, so it gave him 60% of the group's shares and Thao, 40%.
Since the division of the group’s shares might cause difficulties for its operations, the court ruled that Vu would buy all of Thao’s shares.
Vu later worked with the departments of Planning and Investment of Binh Duong, Bac Giang, Daklak, Dak Nong and HCMC to complete procedures to adjust the business licenses for companies under the group.
On January 10, the Supreme People’s Procuracy asked the HCMC Department of Enforcement of Civil Judgments to postpone the enforcement of the court’s ruling in the divorce case, as requested by Thao.
However, by the time the HCMC Department of Enforcement of Civil Judgments had received the demand, Vu had fulfilled his obligations. SGT
The Trung Nguyen group, Vietnam’s famous coffee business, plans to open 3,000 E-Coffee shops by 2020, before bringing the franchise chain to overseas market.
The three-year divorce dispute keeps dragging down local coffee giant Trung Nguyen, which reported only half of its 2017 profit in 2018.